Few days ago, Malam Mele Kyari, the Group Managing Director and Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), stirred heated reactions when he said Nigerians will pay between N320 and N340 per litre after the removal of petrol subsidy in 2022.

Though the minister of finance, budget and national planning, Zainab Ahmed, said the subsidy will be replaced with a N5000-a-month transportation grant to the poorest Nigerians, many Nigerians have rejected the government's plan.

Petrol Prices in Nigeria and 14 other African Countries
Crowd seen gathered at the NNPC mega petrol station in Calabar, on November 14, 2015. Photo credit: NurPhoto
Amid the heated discussions on the government's plan, a report by The Cable Index shows that Nigeria’s petrol pump price is the lowest in West Africa.

The report sourced its data from Globalpetrolprices.com, a platform that tracks retail fuel prices in over 150 countries and used the FX rate of N411.64 per dollar to arrive at the prices of petrol in some selected African countries.


Why the difference in petrol prices

All countries have access to the same petroleum prices at the international markets. However, they impose different taxes or bear cost through subsidy payments.

According to Globalpetrolprices, the differences in prices across countries are due to the various taxes and subsidies they impose on the product.

According to TheCable Index's findings, Nigeria has the third cheapest petrol price in Africa and the lowest in West Africa.

The N165.89 per litre price also places Nigeria as the seventh cheapest nation in terms of fuel pump price in the world.

Nigerian Labour Congress reacts to projected price of petrol

Meanwhile, the Nigerian Labour Congress (NLC) on Wednesday, November 24, said it has rejected the planned petroleum pump price increase by the federal government.

The president of the congress, Ayuba Wabba, in a statement released in Abuja said members of the NLC would not take the bait thrown by the federal government.

Wabba said the announcement made by Kyari that fuel would cost as high as N340 by February 2022 is comical.

O

They don come again ooooooooo

Wetin make we do with list

This post implies that the cost of petrol in Nigeria is higher than all African major oil producing countries. That's all see there because Angola and Algeria sell fuel at a lesser rate than Nigeria and our level of oil production is about the same.

Litre of petrol should sell for 99naira only!

For Christ sake,when has the plight of the poor so important to these people. Do they know that the #5,000 they want to give to the supposed poor people will be very useless when the price Petrol increase to that exorbitant price up there? Is it a crime if we as Nigerians buy petrol cheaper than any other country. The resultant effect of this increase has many negatives that out weights it's few benefits or positives. People are suffering in this country silently and these people think by increasing fuel prices and give the poor meagre 5k would automatically solve this? Increasing fuel prices will skyrocket every other prices of goods in the already inflated prices of goods. Transportation will increase, cost of running businesses will increase, many businesses will shut down, the poor will be very very poor, there will be new families and people pushed to the poor zone. Abeg I don tire, make I just hold my anger and weep in advance

So our leaders refused to compare us with Algeria, Egypt, Angola but choose to measure us with Benin Republic, Cameroon and Niger Republic.



You see why I no long say thunder should fire people? Because thunder have become useless...

To your tent oh Israel....... but those countries with high petroleum prices are they member of OPEC?....... just to quell my curiosity

No wonder smuggling can't stop. All our neighbors have pump prices almost double that of ours. Gabon, Benin, Togo.

Even Ghana far away is at over 400/litre.

Let's get sincere with ourselves. Subsidy has to go.

They should also tell you the minimum wage of those countries, countries with oil and reserves as nigeria re selling cheaper than nigeria,even countries with a drop of oil selling higher than nigeria also have higher minimum wage, Sai buhari till 2030

bjtinz:
No wonder smuggling can't stop. All our neighbors have pump prices almost double that of ours. Gabon, Benin, Togo.

Even Ghana far away is at over 400/litre.

Let's get sincere with ourselves. Subsidy has to go.

Sorry bro. Subsidy is going no where.
That 5k/ month is an insult